Bank of England drops interest rates

As predicted, the Bank of England have announced today that they have cut the base interest rate from 5.75 down to 5.5%.

Cue sighs of relief all over the UK.

The drop in interest rates is in line with the recent slump in economy that we seem to be experiencing. After living pretty well on borrowed money and enjoying a property price boom - maybe the time has come to realise it isn’t a sustainable way of living.

Read more about it at FinanceLocator.co.uk